 "Panel to decide on aluminium supply to downstream units")
The committee would consist of chairman and managing directors of Odisha Industrial Infrastructure Development Corporation (Idco) and Industrial Promotion & Investment Corporation of Odisha Ltd (Ipicol), executive director (smelter & power), National Aluminium Company (Nalco), executive director (finance), Nalco and chief general manager (MSME), Idco.
The committee will decide the terms and conditions of supply of molten metal and also devise a mechanism for allotment of the raw material to various units in the park. The first meeting of the committee is scheduled to be held on July 28.
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The aluminium park is being jointly developed by Angul Aluminium Park Pvt Ltd, a 50:50 joint venture between Nalco and Idco.
Hot metal is a key raw material for establishment of aluminium downstream industries at the park. Nalco has committed a supply of 50,000 tonne of molten aluminium per annum for downstream units at the park for a period of 20 years.
The Department of Industrial Policy & Promotion (DIPP), under Union commerce & industry ministry, recently agreed to provide a grant of Rs 43.01 crore to the park under Modified Industrial Infrastructure Upgradation Scheme.
The industrial complex at Angul is to be developed on 204 acres of land at a cost of around Rs 125 crore. It has, so far, attracted investments worth Rs 631 crore. Two industries- Midal Cables and Metal Powder Company Ltd have proposed to set up their units in the park.
Bahrain-based Midal Cables Ltd proposed to set up an aluminium conductor and rod manufacturing unit at an investment of Rs 250-300 crore on 30-40 acres of land.
The company intends to sell its products in domestic as well as international market.